Central Banking Journal
The Bank of Japan’s high-wire act
An end to deflation is in sight, but Japan’s monetary-policy makers still fear the dangers of a collapse of the yen and of the bond markets, says Andrew Smithers.
Over a barrel no more
Compared to the shocks of the 1970s, the world economy has taken recent record oil prices in its stride. Sebastian Dullien and Mark Schieritz investigate why.
The debate on global imbalances
Paul Brione reviews how leading economists have analysed the build-up in global imbalances and how they envisage resolution.
Performance measurement in central banks
Iain Thomson suggests ways central banks can incorporate best practice in commercial-sector performance measurement.
Should reserve management be farmed out?
Why some do and some don’t outsource reserve management. Nick Carver reports.
The ECB’s collateral framework
Francesco Papadia rebuts criticisms that the way the ECB treats government securities keeps market spreads artificially low.
The new Banca d’Italia
Mario Draghi’s first actions as governor have brought a much-needed breath of fresh air to the Banca d’Italia. Isabella Bufacchi reports from Rome.
Managing liquidity risk in a global system
In this exclusive article, Sir Andrew Large worries about the robustness of the financial system in times of stress – and calls for greater clarity from policymakers about lender-of-last-resort issues.
Reflections on central banking
How has central banking changed in the past generation? Alan Greenspan gave his considered views at Jackson Hole in August 2005.
Greenspan’s legacy
Allan Meltzer explains how Alan Greenspan’s leadership of the Fed has re-written the rules of monetary-policy making.
All eyes on the rand
Inflation is on target, but the exchange rate still dominates economic debate, writes Malan Rietveld.
Central bank staff costs
Paul Brione analyses the cost of central bankers across the OECD.
Beware fads and fashions
The latest fashion in accounting standards will not deliver good central banking says John Nugée.
The Riksbank’s ongoing efficiency drive
This article, the first in a special feature modernising central banks, looks at the Riksbank’s drive to improve efficiency in cash handling, payment systems and reserve management.
Interview: Lars Heikensten
The governor of Sweden’s Riksbank explains why the world’s oldest central bank had to modernise.
Japan’s debt dilemma
After years of stagnation, Japan’s economy is at last stirring. Yet rising yields threaten new financial crises. Anthony Rowley reports.
Managing with negative capital
How does the Czech National Bank deal with the negative capital on its balance sheet? Jan Frait explains.
Fischer wows Israel
Stanley Fischer has ambitious plans to reform the Bank of Israel. Dan Gerstenfeld reports.
Accountability – a politician’s view
David Ruffley discusses how the Bank of England’s accountability has developed in recent years.
An insider looks back at the Greenspan Fed
Edward Gramlich, who recently retired as a Federal Reserve governor, discusses some highlights of his term in office with Blair Baker and Erin Kogan.
Bernanke on Bernanke
Central Banking selects key remarks on major policy issues by the Fed chairman- elect.
Why statistics matter
More care should be taken in presenting important statistics, says Steve Hanke, editorial adviser to Central Banking.